DraftKings Inc. $DKNG Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. trimmed its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 51.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 81,900 shares of the company’s stock after selling 86,300 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in DraftKings were worth $3,063,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of DraftKings by 1.4% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 197,740 shares of the company’s stock valued at $7,395,000 after acquiring an additional 2,712 shares during the period. iA Global Asset Management Inc. acquired a new stake in DraftKings in the 3rd quarter valued at $360,000. Strs Ohio increased its holdings in DraftKings by 19.0% in the 3rd quarter. Strs Ohio now owns 156,492 shares of the company’s stock valued at $5,853,000 after purchasing an additional 25,005 shares in the last quarter. Olympiad Research LP purchased a new position in DraftKings in the third quarter valued at about $294,000. Finally, Rakuten Investment Management Inc. acquired a new position in shares of DraftKings during the third quarter worth about $140,000. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

DraftKings Stock Down 5.2%

DKNG stock opened at $29.97 on Monday. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 2.51. The firm has a 50 day simple moving average of $33.55 and a 200-day simple moving average of $37.91. The company has a market capitalization of $14.92 billion, a P/E ratio of -52.58, a PEG ratio of 0.61 and a beta of 1.63. DraftKings Inc. has a twelve month low of $26.23 and a twelve month high of $53.61.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data on Friday, November 7th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.40 billion. DraftKings had a negative net margin of 4.90% and a negative return on equity of 22.84%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.60) earnings per share. On average, equities research analysts predict that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

Insider Activity at DraftKings

In other news, Director Harry Sloan purchased 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was acquired at an average cost of $30.30 per share, for a total transaction of $757,500.00. Following the completion of the purchase, the director owned 249,712 shares of the company’s stock, valued at approximately $7,566,273.60. This trade represents a 11.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R Stanton Dodge sold 52,777 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $32.01, for a total value of $1,689,391.77. Following the sale, the insider owned 500,000 shares in the company, valued at $16,005,000. The trade was a 9.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 166,752 shares of company stock worth $5,252,044. 47.08% of the stock is currently owned by company insiders.

Trending Headlines about DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Benchmark reaffirmed a Buy and left its $37 price target unchanged, signaling an ~18% near?term upside vs. current levels and providing buy?side support despite regional softness. Why Benchmark Is Staying Bullish
• Positive Sentiment: Bull case from independent research argues new prediction?market features aren’t a material competitive threat, cites improving hold, margins and user metrics, and models DKNG at a higher forward multiple — a constructive fundamental view for longer?term holders. Are Prediction Markets Really A Threat To DraftKings?
• Positive Sentiment: MarketBeat highlights the Super Bowl as a near?term revenue catalyst (higher betting volume/parlay mix), which could drive a quick rebound if sports outcomes normalize. The Super Bowl Catalyst
• Neutral Sentiment: Media/TV commentary (Jim Cramer) reiterates state expansion (Texas, California, Florida) as the strategic upside requirement — keeps regulatory rollout on investors’ radars but doesn’t change near?term fundamentals. Jim Cramer on DraftKings
• Neutral Sentiment: Analyst coverage is mixed: some price?target cuts and some upgrades, leaving consensus in the “moderate buy” range but with wide dispersion — increases headline volatility. Analysts Offer Insights
• Negative Sentiment: Insider selling — R. Stanton Dodge sold 52,777 shares (~$1.69M at ~$32.01) on Jan. 20; the repeated, sizable disposals may add short?term selling pressure and raise sentiment concerns despite his remaining stake. Insider Selling: DraftKings Insider Sells 52,777 Shares
• Negative Sentiment: Underlying headwinds — recent quarterly revenue and EPS misses, trading below the 200?day moving average, and elevated leverage/margin risk keep the stock vulnerable to further downside on weak near?term results or event outcomes. MarketWatch: Stock Falls

Analysts Set New Price Targets

DKNG has been the subject of a number of recent research reports. Bank of America lowered DraftKings from a “buy” rating to a “neutral” rating and lowered their target price for the company from $48.00 to $35.00 in a research note on Tuesday, November 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price objective on shares of DraftKings in a research report on Wednesday, November 19th. Oppenheimer dropped their price objective on shares of DraftKings from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 1st. JMP Securities decreased their target price on shares of DraftKings from $54.00 to $51.00 and set a “market outperform” rating for the company in a research note on Wednesday, October 1st. Finally, Susquehanna dropped their price target on shares of DraftKings from $59.00 to $48.00 and set a “positive” rating on the stock in a research note on Monday, November 10th. Twenty-four analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $47.10.

DraftKings Company Profile

DraftKings Inc is a leading digital sports entertainment and gaming company specializing in daily fantasy sports, sports betting and iGaming products. The company provides an integrated platform where users can participate in daily fantasy contests, place wagers on professional sports events, and enjoy a range of online casino-style games. DraftKings’ proprietary technology supports real-time odds, live scoring and advanced analytics to enhance the user experience across mobile and desktop applications.

Founded in 2012 by co-founders Jason Robins, Matthew Kalish and Paul Liberman, DraftKings began as a daily fantasy sports provider and rapidly expanded into regulated sports betting following legislative changes in the United States.